Global Underwater Hub (GUH) and Scottish Enterprise (SE) join forces to maximize supply chain opportunities in floating offshore wind through the signing of a Memorandum of Understanding.

This agreement will allow them to work together to establish a subsea supply chain ecosystem as a global center of excellence for floating offshore wind energy.

According to Scottish Enterprise, the goal of this strategic partnership is to maximize the economic value for Scotland and the UK from the predicted global growth of floating offshore wind. It will also support the transition of the UK’s subsea oil and gas supply chain to floating offshore wind energy.

The subsea supply chain ecosystem will provide a collaborative environment to boost the capabilities of Scottish subsea companies so they can take advantage of opportunities in floating offshore wind, a market valued at £1 trillion globally and £270 billion nationally.

By working together, GUH and SE will help protect and grow the UK’s global leadership position in the subsea industry by leveraging innovation and economic opportunities emerging from floating offshore wind energy.

They will identify and bring together companies, organizations, facilities, resources, and expertise that can support the growth of the floating offshore wind industry both in the UK and internationally.

They will identify gaps in the subsea supply chain's capacity, infrastructure, resources, and experience relative to the needs of the floating offshore wind market and provide specific support to fill those gaps. Focus areas include subsea cable systems, mooring and anchoring, as well as subsea operations and maintenance.

Part of the partnership's remit will be funding and project development, working together to design and develop initiatives that make effective use of public sector funding to support projects in the supply chain. This funding will support local businesses and enhance their competitive edge in subsea technology and operations.

They will also develop and implement joint strategies for business growth services, investment campaigns, and foreign direct investment, including financial support and products to attract industry players, ensuring the efficient use of resources and minimizing duplication.

Other priorities will include the analysis and support of subsea supply chain needs, with a particular focus on competitive advantage, market access, and commercialization of technology. The partnership will also lead the development of standards, guidelines, and best industrial practices for subsea systems and infrastructure, which will increase confidence in the insurance community and the stability of the project.

Neil Gordon, CEO of GUH, stated that "The growth of floating offshore wind offers tremendous opportunities for our subsea supply chain. ScotWind alone represents £28 billion in development, manufacturing, and installation opportunities to deliver 30 GW of generation capacity over the next decade and another £33 billion in operations and maintenance throughout the lifetime of an offshore wind farm."

“The attractive combination of GUH's industry-specific insight, along with Scottish Enterprise's provision of resources and supply chain development support, market access, and skills training, will ensure that the right support is directed to the right businesses at the right time to generate tangible impact on our ability to capitalize on the enormous opportunities offered by floating offshore wind globally,” Gordon added.

Suzanne Sosna, Director of Energy Transition at Scottish Enterprise, stated that her vision is for “Scotland to be recognized globally as a center of excellence for offshore wind, with world-leading supply chains in terms of value, competitiveness, and service.”